When you can retract a bid

You accidentally bid the wrong amount. For example, you meant to bid $20, not $200. In this case, enter the price you intended to bid as soon as you've retracted the incorrect bid

You can't reach the seller. For example, you sent the seller an email and it comes back undeliverable, or you tried calling the seller and the phone number doesn't work

Timing is also important when retracting a bid:

If there are 12 hours or more left before the listing ends, all of your bids can be retracted

If the listing is ending in less than 12 hours, you can retract your most recent bid if it's been less than an hour since you placed it. Any other bids can't be retracted, but you can contact the seller to see if they'll agree to cancel a bid for you